Sanctuary Advisors LLC Increases Holdings in Himax Technologies, Inc. (NASDAQ:HIMX)

Sanctuary Advisors LLC lifted its holdings in Himax Technologies, Inc. (NASDAQ:HIMX) by 33.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,431 shares of the semiconductor company’s stock after acquiring an additional 4,915 shares during the period. Sanctuary Advisors LLC’s holdings in Himax Technologies were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HIMX. Virtu Financial LLC bought a new position in Himax Technologies in the 3rd quarter worth approximately $98,000. Public Employees Retirement System of Ohio purchased a new position in shares of Himax Technologies in the third quarter worth $1,125,000. Y Intercept Hong Kong Ltd bought a new position in shares of Himax Technologies during the third quarter worth $182,000. Stifel Financial Corp grew its stake in Himax Technologies by 4.8% during the third quarter. Stifel Financial Corp now owns 470,526 shares of the semiconductor company’s stock valued at $2,588,000 after acquiring an additional 21,607 shares in the last quarter. Finally, Pinpoint Asset Management Ltd bought a new stake in Himax Technologies in the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 69.81% of the company’s stock.

Himax Technologies Stock Performance

NASDAQ:HIMX opened at $8.12 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.64 and a quick ratio of 1.37. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 18.45 and a beta of 2.07. Himax Technologies, Inc. has a 1 year low of $4.80 and a 1 year high of $9.80. The stock’s 50 day simple moving average is $6.38 and its two-hundred day simple moving average is $6.43.

Himax Technologies (NASDAQ:HIMX) last posted its earnings results on Thursday, November 7th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $222.40 million for the quarter, compared to the consensus estimate of $205.93 million. Himax Technologies had a net margin of 8.77% and a return on equity of 9.06%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS.

Himax Technologies announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price objective on Himax Technologies from $7.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, December 13th.

Himax Technologies Profile

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, and other products.